XML 109 R43.htm IDEA: XBRL DOCUMENT v3.21.2
FAIR VALUE MEASUREMENTS (Details - Assets and Liabilities Measured at Fair Value on a Recurring Basis) - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale [1] $ 273,070 $ 271,496
Other bond securities [1] 4,866 5,291
Equity securities [1] 1,079 1,056
Other invested assets 9,580 8,422
Derivative Assets, Fair Value, Gross 5,586 6,805
Derivative assets, Counterparty netting (2,833) (3,812)
Derivative assets, Cash collateral (1,721) (2,219)
Derivative assets 1,032 774
Short-term investments 5,523 5,968
Separate account assets, at fair value 107,306 100,290
Fair Value, Liabilities Measured on Recurring Basis    
Policyholder contract deposits, portion measured at fair value 9,020 9,798
Derivative Liabilities, Fair Value, Gross 4,765 5,822
Derivative liabilities, Counterparty netting (2,833) (3,812)
Derivative liabilities, Cash collateral (1,201) (1,441)
Derivative liabilities 731 569
Fortitude Re funds withheld payable 41,403 43,060
Other liabilities 741 570
Long-term debt 1,974 2,097
Fair Value Using Net Asset Value Per Share or its equivalent 7,378 6,493
Level 1    
Fair Value, Liabilities Measured on Recurring Basis    
Fortitude Re funds withheld payable 0 0
Level 2    
Fair Value, Liabilities Measured on Recurring Basis    
Fortitude Re funds withheld payable 0 0
Level 3    
Fair Value, Liabilities Measured on Recurring Basis    
Fortitude Re funds withheld payable 36,086 37,018
Recurring Basis    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 273,070 271,496
Other bond securities 4,866 5,291
Equity securities 1,079 1,056
Other invested assets 2,202 1,929
Derivative assets, Counterparty netting (2,833) (3,812)
Derivative assets, Cash collateral (1,721) (2,219)
Derivative assets, Counterparty netting and cash collateral (4,554) (6,031)
Derivative assets 1,032 774
Short-term investments 5,523 5,968
Other assets 113 113
Separate account assets, at fair value 107,306 100,290
Fair value assets measured on recurring basis, total 395,191 386,917
Fair Value, Liabilities Measured on Recurring Basis    
Policyholder contract deposits, portion measured at fair value 9,020 9,798
Derivative liabilities, Counterparty netting (2,833) (3,812)
Derivative liabilities, Cash collateral (1,201) (1,441)
Derivative liabilities, Counterparty netting and cash collateral (4,034) (5,253)
Derivative liabilities 731 569
Fortitude Re funds withheld payable 5,317 6,042
Other liabilities 10 1
Long-term debt 1,974 2,097
Fair value liabilities measured on recurring basis, total 17,052 18,507
Recurring Basis | Interest rate contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 3,678 4,637
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 3,880 4,436
Recurring Basis | Foreign exchange contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 1,157 1,022
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 747 1,090
Recurring Basis | Equity contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 731 1,130
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 72 223
Recurring Basis | Commodity contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 6  
Recurring Basis | Credit contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 1 2
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 63 67
Recurring Basis | Other contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 13 14
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 3 6
Recurring Basis | U.S. government and government sponsored entities    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 4,501 4,126
Other bond securities 1,778 1,845
Recurring Basis | Obligations of states, municipalities and political subdivisions    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 15,179 16,124
Recurring Basis | Non-U.S. governments    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 16,021 15,345
Other bond securities 0 0
Recurring Basis | Corporate debt    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 175,553 169,298
Other bond securities 12 12
Recurring Basis | Residential mortgage-backed securities (RMBS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 28,584 31,465
Other bond securities 334 429
Recurring Basis | Commercial mortgage-backed securities (CMBS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 15,464 16,133
Other bond securities 300 320
Recurring Basis | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 17,768 19,005
Other bond securities 2,442 2,685
Recurring Basis | Level 1    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 55 101
Other bond securities 0 0
Equity securities 1,029 929
Other invested assets 0 0
Derivative Assets, Fair Value, Gross 7 9
Short-term investments 2,839 2,379
Other assets 0 0
Separate account assets, at fair value 103,402 96,560
Fair value assets measured on recurring basis, total 107,332 99,978
Fair Value, Liabilities Measured on Recurring Basis    
Policyholder contract deposits, portion measured at fair value 0 0
Derivative Liabilities, Fair Value, Gross 6 15
Fortitude Re funds withheld payable 0 0
Other liabilities 0 0
Long-term debt 0 0
Fair value liabilities measured on recurring basis, total 6 15
Recurring Basis | Level 1 | Interest rate contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 0 0
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 2 1
Recurring Basis | Level 1 | Foreign exchange contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 0 0
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 0 0
Recurring Basis | Level 1 | Equity contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 7 9
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 4 14
Recurring Basis | Level 1 | Commodity contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 0  
Recurring Basis | Level 1 | Credit contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 0 0
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 0 0
Recurring Basis | Level 1 | Other contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 0 0
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 0 0
Recurring Basis | Level 1 | U.S. government and government sponsored entities    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 0 73
Other bond securities 0 0
Recurring Basis | Level 1 | Obligations of states, municipalities and political subdivisions    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 0 0
Recurring Basis | Level 1 | Non-U.S. governments    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 55 28
Other bond securities 0 0
Recurring Basis | Level 1 | Corporate debt    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 0 0
Other bond securities 0 0
Recurring Basis | Level 1 | Residential mortgage-backed securities (RMBS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 0 0
Other bond securities 0 0
Recurring Basis | Level 1 | Commercial mortgage-backed securities (CMBS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 0 0
Other bond securities 0 0
Recurring Basis | Level 1 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 0 0
Other bond securities 0 0
Recurring Basis | Level 2    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 246,808 244,506
Other bond securities 2,428 2,593
Equity securities 46 76
Other invested assets 103 102
Derivative Assets, Fair Value, Gross 5,195 6,580
Short-term investments 2,684 3,589
Other assets 0 0
Separate account assets, at fair value 3,904 3,730
Fair value assets measured on recurring basis, total 261,168 261,176
Fair Value, Liabilities Measured on Recurring Basis    
Policyholder contract deposits, portion measured at fair value 0 0
Derivative Liabilities, Fair Value, Gross 4,701 5,710
Fortitude Re funds withheld payable 0 0
Other liabilities 10 1
Long-term debt 1,974 2,097
Fair value liabilities measured on recurring basis, total 6,685 7,808
Recurring Basis | Level 2 | Interest rate contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 3,677 4,637
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 3,878 4,435
Recurring Basis | Level 2 | Foreign exchange contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 1,156 1,020
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 747 1,090
Recurring Basis | Level 2 | Equity contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 356 923
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 57 162
Recurring Basis | Level 2 | Commodity contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 6  
Recurring Basis | Level 2 | Credit contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 0 0
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 19 23
Recurring Basis | Level 2 | Other contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 0 0
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 0 0
Recurring Basis | Level 2 | U.S. government and government sponsored entities    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 4,501 4,053
Other bond securities 1,778 1,845
Recurring Basis | Level 2 | Obligations of states, municipalities and political subdivisions    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 13,240 14,019
Recurring Basis | Level 2 | Non-U.S. governments    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 15,956 15,312
Other bond securities 0 0
Recurring Basis | Level 2 | Corporate debt    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 172,780 166,949
Other bond securities 12 12
Recurring Basis | Level 2 | Residential mortgage-backed securities (RMBS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 17,499 19,771
Other bond securities 221 290
Recurring Basis | Level 2 | Commercial mortgage-backed securities (CMBS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 14,382 15,211
Other bond securities 254 273
Recurring Basis | Level 2 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 8,450 9,191
Other bond securities 163 173
Recurring Basis | Level 3    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 26,207 26,889
Other bond securities 2,438 2,698
Equity securities 4 51
Other invested assets 2,099 1,827
Derivative Assets, Fair Value, Gross 384 216
Short-term investments 0 0
Other assets 113 113
Separate account assets, at fair value 0 0
Fair value assets measured on recurring basis, total 31,245 31,794
Fair Value, Liabilities Measured on Recurring Basis    
Policyholder contract deposits, portion measured at fair value 9,020 9,798
Derivative Liabilities, Fair Value, Gross 58 97
Fortitude Re funds withheld payable 5,317 6,042
Other liabilities 0 0
Long-term debt 0 0
Fair value liabilities measured on recurring basis, total 14,395 15,937
Recurring Basis | Level 3 | Interest rate contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 1 0
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 0 0
Recurring Basis | Level 3 | Foreign exchange contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 1 2
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 0 0
Recurring Basis | Level 3 | Equity contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 368 198
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 11 47
Recurring Basis | Level 3 | Commodity contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 0  
Recurring Basis | Level 3 | Credit contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 1 2
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 44 44
Recurring Basis | Level 3 | Other contracts    
Fair Value, Assets Measured on Recurring Basis    
Derivative Assets, Fair Value, Gross 13 14
Fair Value, Liabilities Measured on Recurring Basis    
Derivative Liabilities, Fair Value, Gross 3 6
Recurring Basis | Level 3 | U.S. government and government sponsored entities    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 0 0
Other bond securities 0 0
Recurring Basis | Level 3 | Obligations of states, municipalities and political subdivisions    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 1,939 2,105
Recurring Basis | Level 3 | Non-U.S. governments    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 10 5
Other bond securities 0 0
Recurring Basis | Level 3 | Corporate debt    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 2,773 2,349
Other bond securities 0 0
Recurring Basis | Level 3 | Residential mortgage-backed securities (RMBS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 11,085 11,694
Other bond securities 113 139
Recurring Basis | Level 3 | Commercial mortgage-backed securities (CMBS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 1,082 922
Other bond securities 46 47
Recurring Basis | Level 3 | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)    
Fair Value, Assets Measured on Recurring Basis    
Bonds available for sale 9,318 9,814
Other bond securities $ 2,279 $ 2,512
[1] See Note 8 for details of balances associated with variable interest entities.